Prime Bank Guarantee Scam: How It Works
(with explanatory video below) Some scams have been making the rounds for years; the Prime Bank Guarantee scam aka Prime Bank Instrument Scheme has been around for a while now and proves to be too alluring for many people to avoid. While the lure of easy money is very appealing to most, be aware that there is no such thing. How does the scam work?
Watch the video below to see the Prime Bank Instrument Guarantee Scheme exposed:
Prime Bank Instrument Scheme Video
The Prime Bank scheme will often be introduced through a friend, inviting you to purchase "bank guarantees" at a discount, to be sold later for an allegedly massive payday to the purchaser. The claim is typically a 20% profit within a month of purchase. You are also required to sign a confidentiality agreement, since this is "exclusive" for the rich. Red flag!
Once you've bought in, you become part of a pool of investors, and they are all invited to invest. You are advised not to get investment advice from a professional, and the scammers go so far as to threaten taking you to court if you try to get an assessment from a professional, as secrecy is the key to this scam.
Many people feel comfortable investing in these bank guarantees as they are supposedly secured by a "Letter of Credit"; in other words, a bank-endorsed guarantee that is supported by top-tier world banks, also known as "prime banks".The scammers will also say the bank guarantees are backed by the International Monetary Fund which gives many investors a false sense of security. Of course, once it is time to cash in your earnings, your money has disappeared along with the "company" handling the investments.
How to avoid the Prime Bank Guarantee scheme:
In a nutshell, there is no such thing as risk-free investing. There are no guarantees in the world of investments. The only safe, risk-free place for your money is in a bank account. A big red flag of this scam is the backers' paranoia about an independent investigation by finance professionals. No legitimate company would ever balk about its' investors seeking third-party advice.
Foreign banks do use bank guarantees, but they are never sold or traded as part of an investment plan. Finally, the International Monetary Fund does not endorse the activities of any bank, even "prime banks", and therefore do not back anything such as bank guarantees.
Consult with a lawyer and financial advisor before buying into any investment, and never invest more money than you are comfortable to lose.If you are victimized by this scam be sure to notify the police and give them copies of all of your paperwork and notes on any phone calls, including time and dates. However, be aware that the chance of recovering your money is slim.
How to report the Prime Bank Guarantee scheme:
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:
How to protect yourself more:
If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You'll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.
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Charles Robert Hadkinson. He swindled money. Supporter of the cheater Mariusz Lastowiecki. Relying on CAYTRUST FINANCE COMPANY LIMITED, they swindled 20,000 EUR. At CAYTRUST FINANCE COMPANY LIMITED, nobody knows them. I warn you against cheaters.
Information and documents by email: alex.thule@aol.com
Mariusz ?astowiecki oraz Charles Hadkinson powolujac si? na mozliwosci w banku Barcklay oraz Firmie Caytrust wyludzili odemnie wspolnie 20 000 EUR. W firmie CAYTRUST nikt panow nie zna. Zostalem oszukany. Na dowod tego zamieszczam zobowiazanie Lastowieckiego i Hadkinsona. Ostrzegam przed tymi oszustami. Nie powierzajcie im jakichkolwiek pieni?dzy.
email: alex.thule@aol.com
need confirmation BG from Standard Chathered Bank
I want to see if a email I have is scam or not.
I found the following message while searching for a Bank Guarantee for a Chadian Construction project. It seems very fishy:
“We are direct provider of fresh cut bank instrument for lease/sale, such as BG, SBLC, MTN, Bank Bonds, specifically for lease with no upfront payment, at leasing price of 6+2 of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA. Leased Instruments can be obtained at minimal expense to the borrower compared to other banking options.
Our BG/SBLC Financing can help you get your project funded, loan financing, please let me know if you are interested in any of our services, by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding.
The Leased Instruments includes: BG’s, Insurance Guarantees, MTN, (SBLC) Standby Letters of Credit and Third Party Guarantees such as a standby forward commitment to purchase or a standby loan. If you are a potential Investor or Principle looking to raise capital, we will be happy to answer any questions that you have about this opportunity and to provide you with all the details regarding this services.
Yours Sincerely,
Marcus Julian Dodd
FINANCE & LAW CONSULTING LIMITED
Company Reg No: 07447215
MarcusDodd@consultant.com
Tel: +44-7937667444
Fax: +44-7040-902-793”
hai how a u ..im khairul
how to confirm about Proof Of Fund and check certificate ..
How to check proof of funds from HSBC London ?
have a system to check and how much charges fees to check?
Francesco Cardenas of http://www.wix.com/gestfinancial/investments is a fake, scam artist who will take your money and run. My company paid $340,000 in hopes of getting a Bank Guarantee, however, he has not delivered nor has he returned the money.
The address is lists as an office address is an empty lot, no bank has ever heard of him, and he only has a "fax" number.
He cannot deliver any references other than being jailed for 3 years because of financial crimes all over Europe.
Be aware this scam artist.